Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Drones for Oil and Gas Market size was over USD 20.09 billion in 2024 and is poised to exceed USD 1.49 trillion by 2037, growing at over 39.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of drones for oil and gas is evaluated at USD 26.8 billion.
The market is set to witness significant growth during the forecasted period due to the rising adoption of drones across all three oil and gas industry sectors. The development of the market can also be attributed to factors such as improving drone technology globally. In January 2018, the United States awarded 19 deepwater blocks, which led to 39 bids for the 19 blocks. The auction received an approximate investment of USD 1.4 billion.
Drones for Oil and Gas Sector: Growth Drivers and Challenges
Growth Drivers
- Rising prevalence of drones in all three sectors of oil and gas
- Increase in well drilling
Challenges
- Expensive drone technology
- Lack of presence of drone companies in lower economic regions
Drones for Oil and Gas Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
39.3% |
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Base Year Market Size (2024) |
USD 20.09 billion |
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Forecast Year Market Size (2037) |
USD 1.49 trillion |
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Regional Scope |
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Drones for Oil and Gas Segmentation
The drones for oil and gas market is segmented on the basis of end-user into upstream, downstream, and midstream. The upstream application segment is anticipated to grab the most significant share by the end of 2025, as producing and exploratory wells are essential to monitor and maintain cost-effectiveness. However, with the improving drone technology, the drone monitoring market for oil and gas is growing with a high CAGR.
Based on application, the offshore segment in the global drones for oil and gas market for oil and gas is projected to grow with a high CAGR over the forecast period. The segment's growth can be attributed to the fact that drones for oil and gas are a safe & relatively cost-effective method in isolated areas offshore.
Our in-depth analysis of the global market includes the following segments
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By Application |
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By End-User |
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Customize this ReportDrones for Oil and Gas Industry - Regional Synopsis
North America Market Statistics
North America industry is expected to dominate majority revenue share by 2037, as the region's oil-well drilling rate is increasing, as the region's oil-well drilling rate is increasing. Along with this, the US accounts for the largest share due to global drone companies' presence in the region coupled with the rising adoption of drones across all three sectors of the oil and gas industry.
Companies Dominating the Drones for Oil and Gas Landscape
- PrecisionHawk
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Terra Drone Corp.
- CYBERHAWK
- Viper Drones
- Equinox's Drones
- Airobotics
- Flyability
- DroneDeploy
Author Credits: Dhruv Bhatia
- Report ID: 2993
- Published Date: Dec 26, 2024
- Report Format: PDF, PPT
